SMARTPHONES
HTC to back blockchain fund
HTC Corp (宏達電) is to support a US$50 million venture capital fund for a new blockchain start-up, Proof of Capital, with the aim of introducing cryptographic technology to the wider public. HTC chief crypto officer Phil Chen (陳信生), who is in charge of the company’s Exodus blockchain smartphone, said in a statement that the partnership would focus on defining the standards and interactions for the next generation of the Internet, and introducing mobile and hardware expertise to its portfolio companies. The US$50 million fund is being led by Chen; Edith Yeung (楊珮珊), a partner at 500 Startups; and Chris McCann, who founded and led the community program at Greylock Partners in Silicon Valley.
COMMUNICATIONS
UMT net profit surges 110%
Universal Microwave Technology Inc (UMT, 昇達科技), which supplies electronic parts and materials for broadband wireless communications, yesterday reported net profit of NT$71 million (US$2.3 million) for the first quarter of this year, up 110 percent from a year earlier, the highest for the first quarter in the company’s history. Revenue in the first quarter rose 8 percent annually to NT$449 million, or earnings per share of NT$1.1. The company said that shipments for this year are expected to continue growing due to several countries’ continued 5G-related investments and rising demand for millimeter-wave and satellite communication products.
TELECOMS
CHT executive shuffle likely
Chunghwa Telecom Co (CHT, 中華電信) is likely to see a high-ranking executive shuffle soon, as speculation swirls that chairman David Cheng (鄭優) is to retire at the end of June. The company did not deny media reports about Cheng’s retirement, but said that any changes in its operational executives would be made following related rules. CHT president Sheih Chi-mau (謝繼茂) has been picked by the government to succeed Cheng, local media reported. The Ministry of Transportation and Communications holds a 35.29 percent stake in the company.
CEMENT
Work unaffected by quake
Asia Cement Corp (亞泥) said that an earthquake in Hualien County yesterday had no significant effects on the company’s financial and business operations. A magnitude 6.1 earthquake early in the afternoon caused no harm to equipment or personnel at its Hualien plant and quarry, the firm said. The plant’s No. 2 kiln was shut down due to the earthquake, but resumed normal operations at 1:23pm, it said. In related news, Taiwan Land Development Corp (台灣土地開發) said that there were no injuries at its mixed-use New Paradiso (新天堂樂園) complex in Hualien following the earthquake.
ELECTRICITY
Plants unaffected by quake
The Hualien earthquake did not affect the Jinshan Nuclear Power Plant in New Taipei City’s Shihmen District (石門) nor the Guosheng Nuclear Plant in Wanli District (萬里), Taiwan Power Co (台電) said yesterday, after it completed routine inspections. The Ma-anshan Nuclear Power Plant in Pingtung County’s Ma-anshan (馬鞍山) also continued to function normally, as did hydroelectric and coal-fired power plants, the firm said. However, the Ministry of Economic Affairs said that four hydropower firms have stopped supplying electricity to Yilan County’s Longte Industrial Park (龍德工業區). Meanwhile, CPC Corp, Taiwan (台灣中油) reported no accidents at its facilities and instituted preventive measures due to aftershocks.
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
Meta Platforms Inc offered US$100 million bonuses to OpenAI employees in an unsuccessful bid to poach the ChatGPT maker’s talent and strengthen its own generative artificial intelligence (AI) teams, OpenAI CEO Sam Altman has said. Facebook’s parent company — a competitor of OpenAI — also offered “giant” annual salaries exceeding US$100 million to OpenAI staffers, Altman said in an interview on the Uncapped with Jack Altman podcast released on Tuesday. “It is crazy,” Sam Altman told his brother Jack in the interview. “I’m really happy that at least so far none of our best people have decided to take them
PLANS: MSI is also planning to upgrade its service center in the Netherlands Micro-Star International Co (MSI, 微星) yesterday said it plans to set up a server assembly line at its Poland service center this year at the earliest. The computer and peripherals manufacturer expects that the new server assembly line would shorten transportation times in shipments to European countries, a company spokesperson told the Taipei Times by telephone. MSI manufactures motherboards, graphics cards, notebook computers, servers, optical storage devices and communication devices. The company operates plants in Taiwan and China, and runs a global network of service centers. The company is also considering upgrading its service center in the Netherlands into a
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
RSS